The real estate sector faces years of challenges ahead
Challenges in the real estate market are anticipated to last until 2024
Challenges in the property market are set to last until 2024 as a lake of capital, low liquidity, and slower global economic growth cast a shadow over the industry.
The global economy harms Vietnam’s market and domestically many policy updates on investment and operating in the real estate sector are delayed. There is low supply and demand, and the financial market is not good due to a lack of market transparency amid force majeure factors like war, disease, and natural disasters.
Authorities keep investigating and punishing real estate and tightening the credit quotas.
These could make investors lose their trust in the industry and lead to a large sell-off but there are no buyers.
“Restructuring and filtering are set to become even stronger in 2023 than this year. Investors should prepare for a negative outcome.”
The CEO of a real estate developer in Ho Chi Minh City, who asked not to be identified, said that the market will keep unstable in 2023 and that challenges will gradually be resolved from 2024 onward.
“Market decrease will not be measured in quarters but in years.”
Van said that investors should not expect high profits within the next 12-24 months, while investment prudence is more important than ever.
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